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File #: 23-1673    Version: 1
Type: Resolution Status: Adopted
File created: 10/31/2023 In control: Safety, Housing, Education & Homelessness Committee
On agenda: 1/16/2024 Final action: 1/16/2024
Title: A resolution approving a proposed Second Amendment, Assignment, and Assumption Agreement between the City and County of Denver Sheridan Homes, LLC, and Archway Jody Acquisition, LLC to assign the affordable housing obligations contained in a loan agreement and amend the agreement to allow for the redevelopment of property located at 5375 West 10th Avenue while also tolling the remaining period of affordability during redevelopment. Amends an agreement with Sheridan Homes LLC to assign the ongoing obligations of a loan agreement and covenant related to affordable housing development located at 5375 West 10th Avenue to Archway Jody Acquisition LLC. This amendment creates the assumption of the agreement and covenant by Archway Jody Acquisition LLC and allows Archway Jody Acquisition to redevelop the property while also extending the covenant for the period of time that it will take to redevelop the property, in Council District 3. HOST-202370810-02 / GE7A090-02. The last regularly schedul...
Indexes: Anne Wallace
Attachments: 1. RR23-1673_HOST_Resolution Request_Sheridan Homes LLC, 2. 23-1673 Filed Resolution 11.13.pdf, 3. 23-1673- Archway_Jody_Acquisition_LLC_Second_Amend_Assignment_&_Assumption_2023_$0_Jody_Apts, 4. 23-1673 Filed Resolution_Sheridan Homes, LLC, and Archway Jody Acquisition, LLC, 5. 23-1673_signed
Contract Request Template (Contracts; IGAs; Leases)

Date Submitted: 11-6-2023

Requesting Agency: HOST
Division:

Subject Matter Expert Name: Chris Lowell
Email Address: Christopher.lowell@denvergov.org
Phone Number:

Item Title & Description:
(Do not delete the following instructions)
These appear on the Council meeting agenda. Initially, the requesting agency will enter a 2-3 sentence description. Upon bill filling, the City Attorney's Office should enter the title above the description (the title should be in bold font).

Both the title and description must be entered between the red "title" and "body" below. Do not at any time delete the red "title" or "body" markers from this template.
title
A resolution approving a proposed Second Amendment, Assignment, and Assumption Agreement between the City and County of Denver Sheridan Homes, LLC, and Archway Jody Acquisition, LLC to assign the affordable housing obligations contained in a loan agreement and amend the agreement to allow for the redevelopment of property located at 5375 West 10th Avenue while also tolling the remaining period of affordability during redevelopment.
Amends an agreement with Sheridan Homes LLC to assign the ongoing obligations of a loan agreement and covenant related to affordable housing development located at 5375 West 10th Avenue to Archway Jody Acquisition LLC. This amendment creates the assumption of the agreement and covenant by Archway Jody Acquisition LLC and allows Archway Jody Acquisition to redevelop the property while also extending the covenant for the period of time that it will take to redevelop the property, in Council District 3. HOST-202370810-02 / GE7A090-02. The last regularly scheduled Council meeting within the 30-day review period is on 2-5-2024. The Committee approved filing this item at its meeting on 11-8-2023.
body

Affected Council District(s) or citywide?
Council District 3
Contract Control Number:
HOST-202370810-02/GE7A090-02
Vendor/Contractor N...

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